Weekly Review For Nifty & Bank Nifty

JAY SWAMINARAYAN

We said last week “ Nifty will be traded with negative bias below 8900 and it would be declines towards 8810 – 8720 – 8630. Other hand above 8900 Nifty will be traded with positive bias and it would be tries to touch 8990 – 9080 - 9170. “ Suggested Positional Trading Strategy :   [[1]  Nifty looks negative below 8900 with support 8990 & resistance are 8860 – 8810 / 8770 – 8720 / 8680 – 8630.   [2]  Nifty looks positive above 8900 with support 8810 & resistance are 8950 – 8990 / 9040 – 9080 / 9130 – 9170.

               

Nifty opened positive and traded expected. In first half Nifty registered high of 8977.85 and achieved our 1^st upside target. Nifty traded in narrow range and registered low of 8891.95 in second half. Nifty gained 37 points ( + 0. 41 % ) and closed in green.                                                                                                                                                         

                                                                                                                                                                                                             

                                Nifty Review For This Week

We expect same, Nifty will be traded with negative bias below 8900 and it would be declines towards 8810 – 8720 – 8630. Other hand above 8900 Nifty will be traded with positive bias and it would be tries to touch 8990 – 9080 - 9170.  Nifty have 1st Sup. at 8860 – 8810 & 2nd Sup. at 8770 – 8720 & 3rd Sup. at 8680 – 8630 and Nifty find 1st Res. at 8950 – 8990 & 2nd Res. at 9040 – 9080 & 3rd Res. at 9130 – 9170.

Positional Strategy:

[1]  Nifty looks negative below 8900 with support 8990 & resistance are 8860 – 8810 / 8770 – 8720 / 8680 – 8630. 

               

[2]  Nifty looks positive above 8900 with support 8810 & resistance are 8950 – 8990 / 9040 – 9080 / 9130 – 9170.

NIFTY :: OP = 8915.10 , HI = 8977.85 , LO = 8891.95 , CL = 8934.55.

                               

Ø  Bank Nifty Review

We said last week “  Bank Nifty will be traded with negative bias below 20510 and it would be declines towards 20330 – 20150 – 19980. Other hand above 20510 Bank Nifty will be traded with positive bias and it would be tries to touch 20690 – 20870 - 21050. “  Suggested Positional Trading Strategy:   [1]  Bank Nifty looks negative below 20510 with support 20690 & resistance are 20420 – 20330 / 20240 – 20150 / 20060 – 19980.   [2]  Bank Nifty looks positive above 20510 with support 20330 & resistance are 20600 – 20690 / 20780– 20870 / 20960 – 21050.                                                                 

Bank Nifty opened positive and traded expected. In first half Bank Nifty registered low of 20532.20 than gave rally towards 20900. Bank Nifty registered high of 20876.95 and achieved our 2^nd down side target in second half. Bank Nifty gained 231 points ( + 1.12 % ) and closed in green.

                                                                          

                                Bank Nifty Review For This Week

We expect, “  Bank Nifty will be traded with negative bias below 20690 and it would be declines towards 20510 – 20330 – 20150. Other hand above 20690 Bank Nifty will be traded with positive bias and it would be tries to touch 20870 – 21050 - 21230.  Bank Nifty has 1st Sup. at 20600 – 20510 & 2nd Sup. at 20420 – 20330 & 3rd Sup. at 20240 – 20150 and Bank Nifty find 1st Res. at 20780 – 20870 & 2nd Res. at 20960 – 21050 & 3rd Res. at 21140 - 21230.

Positional Trading Strategy:

[1]  Bank Nifty looks negative below 20690 with support 20870 & resistance are 20600 – 20510 / 20420 – 20330 / 20240 – 20150.    

 [2]  Bank Nifty looks positive above 20690 with support 20510 & resistance are 20780 – 20870 / 20960– 21050 / 21140 – 21230.

BANK NIFTY :: OP = 20548.95 , HI = 20876.95 , LO = 20532.20 , CL = 20727.55.

Disclaimer:: This view is only for education purpose. We don’t recommend any buy or sell. [Strictly restricts any type of trade & it’s for paper exercise only]